Tips to leave corporate America behind and begin your freelance journey

Every entrepreneur dreams of the day they can leave their 9-5 behind and officially become our own boss. While sometimes it can seem scary or even impossible, we are reminded that it is truly possible every now and then when someone we follow on social media makes the announcement that they are leaving their day jobs behind. Sometimes people leave and have executed an entire plan and sometimes people quit their jobs unsure of their next move but confident enough to do it on their own. However, you picture your exit from corporate America, here are some tips to consider before making that big leap.

Tip #1: Be clear on your finances

Probably the biggest reason for stalling on leaving your day job is the worry of how will leaving your job affect your income?  We can say corporate America has a lot of cons, but that consistent paycheck that is guaranteed to be there is not one of them. It is very clear that you are knowledgeable about your personal and business finances. You need to know how much you would need to make in your business to supplement your personal income. It may be wise to reduce debt by paying off a car loan, credit cards or any bills that could save money in the long run before leaving a job. If you know you are considering an exit strategy, the best option is to also save! Set a goal of how much you would want to save before leaving and stick to it. The recommended amount is 3-6 months of living expenses. Only you know the amount that can make you comfortable but it is important to set a plan and know what leaving your day job means financially. 

Tip #2: Utilize your job benefits 

It’s so often that we barely use those job perks that are given to us. If you are thinking about an escape plan you want to make things as easy for yourself as you can. That includes using the benefits and perks that you work so hard for. When you leave your job, you might not have health benefits, or if you do they may not be as great as the ones provided by your employer. Make sure to go get those physical exams, eye check-ups and utilize your HSA or FSA to put money away towards future medical needs. Most spending accounts can be used even after you leave your company. Increase your 401k to get the maximum matching benefits from your employer. Some companies offer additional benefits such as health and fitness reimbursement, free financial and career courses. Depending on your situation, these programs can be great for saving a little more cash or help you improve on a skill that will be valuable in your freelance journey. Utilize every benefit that can be valuable at your job, otherwise you will be cheating yourself.

Tip #3: Know what works for you

Earlier I stated that some people have the luxury of not needing a big plan and can just leave their job and within 6 months they are tripling their profits. Well that may not be the best plan for you…and that’s ok. Create a plan that works for you. Do not put yourself in a situation that will knowingly make your life 5 time harder for you and you did not fully think things through. The entrepreneur journey is not a sprint. Even when you get to the point where you are hitting financial goals consistently in your business, you still may have times where certain times are slower than others. Be motivated by the bold moves and success of others but do not let it dictate the pace at which you make life changing decisions. If you have done the calculations and realize it will take you one year to reach your financial goals before you can quit your job, then stick to that plan and know it is nothing to be embarrassed about. If you find yourself getting a roommate or moving back home to cut your living expenses and making it easier to become a full- time freelancer then that is ok as well. Consider your options and go for it.

Tip #4: Market yourself to get new business

If you are leaving your day job then you will have a lot more time on your hands. That means you will want to spend more of that time bringing in new clientele. Aside from social media and word of mouth, making sure you and your brand show up in the best light is key. Adding your profile to sites like Afrofreelancer, will give you the edge to get hired by other businesses and people looking to hire you for the service you offer. It also gives you the chance to look for new talent to help expand your business.